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posted: 6/3/2014 5:01 AM

Public pensions are too good a deal

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Almost every other day there is an article in the Daily Herald about outrageous salaries or pension payouts. Just yesterday there were nine presidents of universities that make -- not earn -- $1 million a year. What would their pensions be when they retire?

They are still handing out these 6 percent salary raises in their final years so that these teachers then can receive a higher pension payout. Where in the private sector is this type of bonus tolerated?

And here is the pension reform: If the increase is in excess of 6 percent then these school districts have to pay a fine. Where does this money to pay the fines come from, the people's salaries who gave out these outrageous increases?

In the first place raises are usually given for outstanding performances, not just because you are going to retire soon. Medicare cost-of-living increases were only 1.5 percent because that was the inflation of last year. Why aren't these same standards followed for city, state and federal employees?

All of these practices have been going on for years and no one is about to change them. Why are there no referendums on the ballots to change these practices? Yes, the state is short in funding the pension fund, but these payouts are bleeding out what is left. These are the people who are teaching our children to be what? Politicians, of course.

Edd Jarina

Rolling Meadows

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